BOARD OF DIRECTORS

-  Board of directors shall consist of five members elected by the general assembly by secret voting and it compromises non-executive members and independent members provided that the independent members shall not be more than half of the BOD members.

-  BOD shall convene six meetings at least in a year.

-  The main role of BOD is including but limited to the following:

- Approving the company's important goals, strategies, plans and policies.

- Studying and approving the planning budgets for the company.

- Approving the interim and  annual financial statements.

- Studying and approving the investment projects.

- Issuance of main policies which regulate the company's work.

- Developing a governance system for the company, supervising it, controlling the extent of its effectiveness and amending it if necessary.

Forming of committees derived from it in accordance with a charter explains the committee's term, its authority, responsibilities and how to be controlled by the board. The formation decision shall contain the nomination of the committee's members and determines their duties.